Confirmation of a bottom with a range violation on 10/04/12 @ 1.2980. Confirmation of a bottom with a close violation on 10/04/12 @ 1.3028. Upside Targets = 1.3198 – 1.3301

The December Euro FX moved sharply higher for its best single day gain in almost 3 weeks as ECB President Draghi reiterated the stance that the euro is “irreversible” and helped push the currency to its highest close in over 2 weeks.

Look for continued momentum in the FX currency as it breaks through the Q3 highs and tracks down extended Intermediate Term upside objectives.

Confirmation of a bottom with a range violation on 10/01/12 @ 1444.75. Confirmation of a bottom with a close violation on 10/03/12 @ 1444.75. Upside Targets = 1465.00 – 1481.25

New highs made on current move Thursday @ 1457.75.

The December S&P’s followed through with near precision on Thursday morning’s projection that this market would trade up to 1457 with a strong Romney showing and traded just 3 ticks through the price on Thursday.

Expect the S&P’s to continue higher on Friday as the market targets the initial upside objective of 1465.

About the Author

Parrish Hicks Capital Research is a trading and technical analysis firm that specializes in Energy and Metal commodity futures. The two founders, Jim Parrish and Kris Hicks, have a combined 38 years’ experience in the commodity business and in 2011 accurately forecasted both $25 moves to the downside in May and July and the $25+ move to the upside in October. They also called the all-time high day for Gold on September 6, 2011 and forecasted a projected downside target of 1528.10 in March 2012. Their trading methodology has a high degree of accuracy which confirms tops/bottoms, projected trading ranges and projected targets for those ranges. Their expertise is focused on 16 commodities plus the comparable ETF markets. You can reach them at Jim@ParrishHicks.com and Kris@ParrishHicks.com or at www.ParrishHicks.com.